Personal loan procedure

Hi All,

This is my question just to get clarification which happened to me in past. I had a personal loan 4 yrs before and totally 60 EMIs i have to pay. i failed to pay 44th EMI since i lost my job but i requested my bank to give me grace period and i have paid the EMI by next month. but i was not aware of bounce charges and even i was not informed by bank to pay it. They informed only my EMI amount to pay.


Now i applied for another loan to balance transfer of my previous loan. But my loan application got rejected by the some bank which i have my previous loan due to bounce charges that effected in CIBIL. I have paid the bounce charges too and still they dint give personal loan and making fool of me in name of CIBIL. i am having 10 yrs of my salary account with a bank and i have my credit card with the same bank and i never failed to pay my credit card bill even when i was jobless.. for existing customer also they rejected my loan since i failed to pay 2400 Rs as bounce charges.

Is this a valid reason ? i hope CIBIL is not a final judgement they should see the value of customer towards the bank also.. 

one more thing my last cheque bounce was a year before and now i paid the bounce charges which i was not aware of 2400 Rs and i paid last month after applying new loan.

I know very well after all the bank policies manager can approve.. in such a way i got loan from another bank..


NO lender including bank will pass loan if CIBIL rating is poor.

Did you obtain NOC from bank while you made the payment?

Better explain and try to cleanse your CIBIL record from the bank.


If nothing works generate evidence of deficiency by the bank and obtain order from DCDRF thru your consumer matters lawyer to cleanse your CIBIL record.


No my question is.. if i am applying for a loan now.. but my past record (2 yrs before) i missed to pay the cheque bounce charge 2400 Rs.. will it affect getting new loan

if so.. why they look for 2 yr old record.. if my present condition is good..


Hello Jaya Kumar

Yes they will look for your past records in order to see if you have good credit score.

Also you paid the balance of 2400 last month. So till month you will be under defaulter list. Only thing you can do now is

Go to the bank where you paid 2400 and ask them to update the CIBIL server.

It will take 30 to 60 days (check with bank for the correct no of days) to erase your black mark in CIBIL

Then before applying for new loan (after 60 to 90 days), check your CIBIL score in the following link


You can file a case in consumer court only after you clear your dues and they didnt update the CIBIL record. You can issue a lawyer notice first.






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